Perpetual Protocol, a leading exchange platform for decentralized perpetual (perps) trading, today announced the launch of the Perpetual Ecosystem Fund.
The Perpetual Ecosystem Fund is backed by 3M PERP (worth $30M at the time of publishing) from the partnership allocation of the Perpetual DAO. The Perpetual Protocol team seeks to do token swaps with projects that have a good track record; plus a business model to develop on top of the protocol.
Thus far, the three (3) following deals have been reached…
Charm Finance is an automatic liquidity manager for Uniswap v3. Despite having a cap on each liquidity vault (known as the ‘Alpha Vault’), nearly all of them have reached their cap.
Currently, the protocol’s TVL stands at $5M. Before launching liquidity vaults, Charm Finance released several experimental (and later discontinued) products such as options and leveraged tokens.
The partnership with Charm will make leveraged liquidity provision on Perpetual Protocol much easier. Makers can earn transaction fees simply by depositing their USDC into one of Charm’s liquidity vaults.
dHEDGE is a decentralized asset management protocol and allows fund managers to trade on Synthetix on behalf of investors. dHEDGE now supports over 400 fund managers; and since launch has a total volume of $690M. dHEDGE v2 will support multiple chains and protocols including Perpetual Protocol v2.
Collaboration with dHEDGE will help Perpetual Protocol reach new traders — professional fund managers. Perpetual Protocol believes as more CEXs tighten their rules for derivatives trading; there will be an exodus of traders to DEXs, choosing platforms like dHEDGE to earn additional fund management fees.
Lemma Finance is the first and the only basis trading protocol to automatically capture profit using the price difference between spot and perpetual markets.
Already on the Rinkeby testnet, when it’s released on Arbitrum, users will be able to deposit USDC to the protocol and share the arbitrage profits proportionally. With Lemma Finance, Perpetual Protocol can close the gap between the price of its protocol and the price on Uniswap.
“We believe that by holding tokens mutually, we can speed up the integration process and also form a tighter relationship with our partners. Even though unveiled today, the Perpetual Ecosystem Fund has been running in stealth mode for some time. Besides these three, we’re still in discussion with other potential partners. In the following weeks…we will unveil more initiatives that aim to support new early-stage and emerging DeFi projects; such as grants, bounties, and volume programs.”
– The Perpetual Protocol Team
Perpetual Protocol is a decentralized perpetual contract protocol for every asset, made possible by a Virtual Automated Market Maker (vAMM).